Fronteer: Drilling Returns 3.94 Grams Per Tonne Gold Over 77.7 Metres at Long Canyon, Nevada
February 01 2010 - 7:00AM
Marketwired
Fronteer (TSX: FRG)(NYSE Amex: FRG) announces that drill results
from Long Canyon's metallurgical program have returned oxide gold
intercepts of up to 3.94 grams per tonne gold (0.115 ounces per
ton) over 77.7 metres, including 25.01 g/t (0.730 oz/ton) over 4.4
metres in LCM30.
Other drill highlights include:
- 3.29 g/t (0.096 oz/ton) over 42.7 metres, including 11.63 g/t
(0.340 oz/ton) over 7.4 metres in LCM33;
- 4.97 g/t (0.145 oz/ton) over 39.6 metres, including 16.76 g/t
(0.489 oz/ton) over 6.3 metres in LCM22;
- 5.36 g/t (0.157 oz/ton) over 24.4 metres, including 19.90 g/t
(0.581 oz/ton) over 5.3 metres in LCM29;
- 16.91 g/t (0.494 oz/ton) over 11.9 metres in LCM36.
These core holes were drilled as part of Long Canyon's ongoing
metallurgical program and support results from initial
reverse-circulation drilling. The infill holes were drilled along
three fence lines in the southern part of the deposit to create
cross-section composites for ongoing metallurgical testing.
Detailed metallurgical findings from core composites on three
cross sections drilled in May 2009 are expected to be reported
during Q1 2010. These metallurgical findings will provide a more
detailed understanding of gold recoveries than what was previously
provided by column-leach testing of bulk samples taken exclusively
from road cuts. Initial test work reported gold recoveries
averaging as high as 90.1%, suggesting mineralization is amenable
to low-cost, conventional, heap-leach processing (See June 11, 2009
press release).
Approximately 30,000 metres of drilling was completed in 2009 at
Long Canyon, with the majority dedicated to development-related
activities to advance the project to feasibility stage.
Upcoming activities to report in the near-term at Long Canyon
include:
- A budget and scope for 2010's exploration and development program, planned
to be announced in Q1.
- An updated NI 43-101 resource estimate, incorporating drill results from
2009, planned to be completed during the first half of 2010.
DRILL HIGHLIGHTS
---------------------------------------------------------------
Intercept
From To length Au Au
Hole ID (metres) (metres) (metres) (oz/ton) (g/t)
---------------------------------------------------------------
LCM22 26.5 66.2 39.6 0.145 4.97
---------------------------------------------------------------
including 46.2 52.4 6.3 0.489 16.76
---------------------------------------------------------------
LCM23 50.9 58.5 7.6 0.034 1.17
---------------------------------------------------------------
LCM24A 3.2 4.9 1.7 0.077 2.63
---------------------------------------------------------------
LCM24B 1.8 6.1 4.3 0.034 1.18
---------------------------------------------------------------
LCM24C 2.4 6.3 3.8 0.152 5.19
---------------------------------------------------------------
LCM24D 1.7 10.5 8.8 0.334 11.45
---------------------------------------------------------------
LCM24E 0.8 8.1 7.3 0.172 5.88
---------------------------------------------------------------
LCM25B 1.1 3.8 2.7 0.083 2.86
---------------------------------------------------------------
LCM25C 0.8 4.1 3.4 0.080 2.73
---------------------------------------------------------------
LCM25D 0.6 4.7 4.1 0.067 2.31
---------------------------------------------------------------
LCM25E 0.3 5.6 5.3 0.072 2.47
---------------------------------------------------------------
LCM26 83.5 91.8 8.2 0.183 6.25
---------------------------------------------------------------
96.3 99.4 3.0 0.029 1.00
---------------------------------------------------------------
LCM27 87 98.2 11.1 0.046 1.57
---------------------------------------------------------------
LCM29 7.9 32.3 24.4 0.157 5.36
---------------------------------------------------------------
including 24.7 30 5.3 0.581 19.90
---------------------------------------------------------------
LCM30 7.9 85.7 77.7 0.115 3.94
---------------------------------------------------------------
including 30.8 36.9 6.1 0.387 13.25
---------------------------------------------------------------
including 53.8 58.2 4.4 0.730 25.01
---------------------------------------------------------------
including 76.8 81.4 4.6 0.175 6.00
---------------------------------------------------------------
LCM32 107.2 111.9 4.7 0.408 13.97
---------------------------------------------------------------
including 108.8 111 2.1 0.887 30.37
---------------------------------------------------------------
LCM33 72.6 115.2 42.7 0.096 3.29
---------------------------------------------------------------
including 93.9 101.3 7.4 0.340 11.63
---------------------------------------------------------------
LCM34 52.7 103 50.3 0.068 2.33
---------------------------------------------------------------
including 66.5 71.3 4.9 0.179 6.12
---------------------------------------------------------------
including 84.8 87.8 3.0 0.151 5.18
---------------------------------------------------------------
LCM35 67.7 81.7 14.0 0.060 2.06
---------------------------------------------------------------
LCM36 34.8 46.6 11.9 0.494 16.91
---------------------------------------------------------------
including 37.5 46.6 9.1 0.636 21.78
---------------------------------------------------------------
LCM37 27.7 40.4 12.7 0.087 2.99
---------------------------------------------------------------
Primary drill composites were calculated using a cut-off of 0.30 g/t,
with variably higher cut-offs for the sub-intervals. Drill intersections
are reported as drilled thicknesses. True widths of the mineralized
intervals are interpreted to be between 70-100% of the reported lengths.
"#M" indicates metallurgical holes. Results less than 1 g/t are not
reported in this press-release table.
For a PDF of comprehensive drill results, including
non-reportable intercepts, please click:
http://media3.marketwire.com/r/DrillResults1006
For a map highlighting recent drilling, please click:
http://media3.marketwire.com/r/DrillMap1006
Long Canyon, Sandman and Northumberland comprise Fronteer's
future production platform based in Nevada. All three gold deposits
have high-grade gold starting at- or near-surface, are potentially
open-pit mineable and have encouraging production attributes.
Fronteer aims to build regional production by advancing these
projects sequentially over the near-term, and funding the company's
growth with low-risk of dilution. In the near-term, Fronteer
anticipates ongoing deposit growth to add significant gold ounces
to its ledger and pending results from a variety of development
activities to clearly define the economic strength of the company's
projects.
Fronteer is majority owner (51%) and operator of Long Canyon
through a joint venture with AuEx Ventures Inc. (49%).
Moira Smith, Ph.D., and Professional Geologist as recognized by
the Association of Professional Engineers and Geoscientists,
British Columbia, is designated as a Qualified Person for these
Long Canyon drill results, with the ability and authority to verify
the authenticity of, and validity of, this data. Drill composites
were calculated using a cut-off of 0.30 g/t. Drill intersections
are reported as drilled thicknesses. True widths of the mineralized
intervals are interpreted to be between 70-100% of the reported
lengths. Reverse circulation cuttings were sampled on 5.0 feet
(1.52 metre) intervals and core was sampled at geologically
selected intervals. Drill samples were assayed by ALS Chemex
(ISO9001:2000) in Reno, Nevada for gold by Fire Assay of a 30 gram
(1 assay ton) charge with an AA finish, or if over 5.0 g/t were
re-assayed and completed with a gravimetric finish. For these
samples, the gravimetric data were utilized in calculating gold
intersections. QA/QC included the insertion and continual
monitoring of numerous standards and blanks into the sample stream,
and the collection of duplicate samples at random intervals within
each batch. Selected holes are also analyzed for a 72-element
geochemical suite by ICP-MS.
ABOUT FRONTEER
We intend to become a significant gold producer. Our solid
financial position and strong operational team give us the ability
to advance our key gold projects through to production. Our future
potential production platform includes our Long Canyon, Sandman and
Northumberland projects - all located in Nevada, one of the
friendliest gold-mining jurisdictions in the world.
Except for the statements of historical fact contained herein,
certain information presented constitutes "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements, including but not limited to, those with respect to
potential expansion of mineralization, potential size of
mineralized zone, timing of preliminary economic assessment and
size and location of exploration program involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievement of Fronteer to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such
factors include, among others, risks related to international
operations and joint ventures , the actual results of current
exploration activities, conclusions of economic evaluations,
uncertainty in the estimation of ore reserves and mineral
resources, changes in project parameters as plans continue to be
refined, future prices of gold and silver, environmental risks and
hazards, increased infrastructure and/or operating costs, labor and
employment matters, and government regulation and permitting
requirements as well as those factors discussed in the section
entitled "Risk Factors" in Fronteer's Annual Information form and
Fronteer's latest Form 40-F on file with the United States
Securities and Exchange Commission in Washington, D.C. Although
Fronteer has attempted to identify important factors that could
cause actual results to differ materially, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove
to be accurate as actual results and future events could differ
materially from those anticipated in such statements. Fronteer
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. Accordingly, readers should not place
undue reliance on forward-looking statements.
NEWS RELEASE 10-06
Contacts: Fronteer Mark O'Dea, Ph.D, P.Geo President and CEO
604-632-4677 or Toll Free 1-877-632-4677 Fronteer Richard Moritz
Director, Investor Relations 604-632-4677 or Toll Free
1-877-632-4677 Fronteer Glen Edwards Director, Communications
604-632-4677 or Toll Free 1-877-632-4677 info@fronteergroup.com
www.fronteergroup.com
Fronteer Gold Inc. Common Stock (Canada) (AMEX:FRG)
Historical Stock Chart
From May 2024 to Jun 2024
Fronteer Gold Inc. Common Stock (Canada) (AMEX:FRG)
Historical Stock Chart
From Jun 2023 to Jun 2024